TayCon Capital Corporation

November 07, 2007 15:25 ET

TayCon Capital Corporation Announces Completion of Initial Public Offering

OTTAWA, ONTARIO--(Marketwire - Nov. 7, 2007) - TayCon Capital Corporation ("TayCon") is pleased to announce that on October 31, 2007 it completed its initial public offering of 1,700,000 common shares at the price of $0.30 per common share for aggregate gross proceeds of $510,000 pursuant to its prospectus dated September 26, 2007, and has filed all final listing documents with the TSX Venture Exchange Inc. (the "TSX-V"). TayCon anticipates to open trading on the TSX-V on November 8, 2007. As a result of this issuance, the Corporation has 4,236,996 common shares issued and outstanding. Union Securities Ltd. acted as agent in connection with this initial public offering, received a commission of $51,000, and TayCon granted Union Securities Ltd. an agent's options to acquire 170,000 common shares at an exercise price of $0.30 per share up to 24 months.

There has been no material change in the business and affairs of TayCon other than the foregoing.

The directors and officers of the Corporation are:

Morgan Cowl, President, CEO and Director
Paul G. Smith, CFO, and Director
Michael Gerrior, Secretary, and Director
Kevin Reed, Director
Stephen Headford, Director
Robert Cummings, Director

TayCon is a Capital Pool Company as defined in Policy 2.4 ("Policy 2.4") of the TSX-V and is, therefore, subject to and governed by the restrictions of Policy 2.4.

TayCon's present intention is to identify and evaluate businesses and assets with a view to completing a Qualifying Transaction pursuant to Policy 2.4. TayCon does not own any assets, other than cash, and has not entered into an "Agreement in Principle" as such phrase is defined in Policy 2.4.

The common shares of TayCon will commence trading on the TSX-V under the symbol "TYC.P" after the final bulletin has been issued by the TSX-V.

The TSX-V does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • TayCon Capital Corporation
    Morgan Cowl
    President, CEO and Director
    (416) 704-0660